Last year, Sunrun reported its Q2 2023 with 35% increased installations (year-over-year). And new sales also grew over 30% nationally: https://investors.sunrun.com/news-events/press-releases/detail/290/sunrun-reports-second-quarter-2023-financial-results
However, Muddy Waters released a report accusing the company of exaggerating its Subscriber numbers and financial results. In consequence, subscriber numbers do not tie to GAAP financials. They claimed the company did it, not only in the last period but also for years. https://muddywatersresearch.com/research/run/a-muddy-waters-mistake/
The report also claimed Sunrun has been claiming and selling tax credits on these inflated numbers. Calculated that the amount of possible excess tax credits for 2022 alone could be more than $200M.
After this investigation came to light, Sunrun stock dropped 8.5% and lost more than $178M in market value.
As a result, investors are also filing a claim against the company for the losses. They suspect Sunrun provided incorrect information in its reports over the years.
So, for all affected— you can check the details here: https://11thestate.com/cases/sunrun-investor-case, and if you have anything to say about your damages / more info, you’re very welcome to share it here.
Source: Financial-Stick-8500